The economy
Sir,—Your editorial, “Overspending country,” today had me thinking. If all the bankers we owe money to decided to call in their loans. New Zealand’s collapse would rival the 1929 Wall Street crash. It is astounding to realise that it is Government overspending that has led to our massive debts. Without huge Government spending deficit and inflation of the money supply to cover the shortages of funds, we would be quite well off. Those who demand more handouts and Government schemes (complaining about high tax at the same time) must realise that we just cannot afford it. Borrowing to cover debts is only worsening and prolonging the situation. What we must do is instead demand less Government spending, and remove the deficit so we can begin to pay back our debts. Wouldn’t it be nice to have a penny-wise Government instead of a spendthrift, inflationary one.— Yours, etc.. ALAN C. WILLENS. December 3, 1981.
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Press, 4 December 1981, Page 12
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155The economy Press, 4 December 1981, Page 12
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